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The Future of Demand: What to Expect in the Next 1, 5 and 10 Years

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Get ready to dive into data that will show you the future of marketing, both near and long term. In this session, you’ll learn how to benchmark yourself to see where you currently stand on the marketing maturity model and how your job will change as AI becomes a new team member. Come with an open mind–your future success depends on it.

Veröffentlicht in: Marketing
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The Future of Demand: What to Expect in the Next 1, 5 and 10 Years

  1. 1. THE FUTURE OF DEMAND
  2. 2. Mathew Sweezey Principal of Marketing Insights Salesforce Author of • Marketing Automation for Dummies (2013) • Context Revolution –Harvard Business Press (2019) @msweezey
  3. 3. The future is already here it just isn’t equally distributed. William Gibson, Author & Futurist @msweezey
  4. 4. @msweezey
  5. 5. DEMAND IS RESPONSIVE TO A NEW CONSUMER O U R M E T H O D S M U S T B E I N C O R D I A T I O N W I T H @msweezey
  6. 6. 80% @msweezey Of customers say the experience a company provides is as important as its products and services. Source: State of the Connected Customer 2018
  7. 7. 12%There is only a 12% delta between the preferences of millennials and baby boomers. So if 100% of millennials do something, it’s safe to say 88% of boomers do too. Source: State of the Connected Customer 2018
  8. 8. @msweezey B2B B2C Technology has made it easier than ever to take my business elsewhere 82% 70% Technology is redefining my behavior as a consumer 76% 61% Technology has significantly changed my expectations of how companies should interact with me 77% 58% Expect the brands they purchase from to respond and interact with them in real time 80% 64% B2B Buyers Are More Affected
  9. 9. CONTEXT REPLACES ATTENTION AS GOAL T H E R E I S A N E W M O D U S O P E R A N D I @msweezey
  10. 10. BY 2025 95% OF ALL CONSUMER INTERACTIONS With a brand will be via artificial intelligence as AI becomes a standard consumer application. Source: FORBES 10 Customer Experience Implementations Of Artificial Intelligence @msweezey
  11. 11. The consumer is no longer in charge, the AI is. If you are not contextual to the moment you will not be let through. @msweezey “ “
  12. 12. DEMAND BECOMES A FUNCTION OF EXPERIENCE @msweezey O U R M E T H O D S M U S T B E I N C O R D I A T I O N W I T H
  13. 13. The amount of want the marketplace has for your product. Typically measured by number of net new sales, or interest in your brand. @ m s w e e z e y OLD DEFINITION OF DEMAND: @msweezey
  14. 14. The amount of revenue marketing is able to drive. It is now a measure of both net new sales, but also increased LCV. @ m s w e e z e y NEW DEFINITION OF DEMAND: @msweezey
  15. 15. Source: Salesforce State of Marketing 2017 High performers were 17X more likely to be considered excellent at collaboration across the entire customer lifecycle 17X HIGH PERFORMERS COLLABORATE ACROSS THE BUSINESS BETTER AT COLLABORATING ACROSS THE BUSINESS
  16. 16. Source: Salesforce State of Marketing 2018 High-performing marketers are 1.5x more likely than underperformers to collaborate with sales teams on ABM programs.
  17. 17. Currently only 1/3 of marketing teams suppress messages to customers with open service issues By 2025 it is estimated that 2/3 of brands will have a fully integrated marketing and service team with common metrics, goals, and programs. Marketing + Service/Support Source: Salesforce State of Marketing 2018 @msweezey
  18. 18. Marketing + Service opens the doors to new ideas like Trailhead. Customers who join the educational platform spend 2X as much as stay a customer 4X as long. @msweezey
  19. 19. A NEW ROLE AND SCOPE NEEDS A NEW LEADER @msweezey O U R M E T H O D S M U S T B E I N C O R D I A T I O N W I T H
  20. 20. “The CXO position can be imagined by rolling up a Chief Revenue Officer and Chief Customer Officer into one position. This executive should have total responsibility for developing all revenue- and profit-generating experiences offered to paying customers.” -Joe Pine & Steve Gilmore – Experience Economy (HBR 2015) @ m s w e e z e y Leading The New Marketing Team @msweezey
  21. 21. CXO’s HAVE ALREADY TAKEN OVER AT LEADING BRANDS M E D I A B 2 B R E T A I L O T H E R @msweezey
  22. 22. AUTOMATIONS GET THEIR OWN AUTOMATIONS O U R M E T H O D S M U S T B E I N C O R D I A T I O N W I T H
  23. 23. AUTOMATION 1.0 A U T O M A T I O N V E R S I O N O N E I S U S U A L L Y A S I N G E L T O O L W I T H T H E A B I L I T Y T O A U T O M A T E E M A I L S .
  24. 24. AUTOMATION 2.0 H A P P E N S A C R O S S A N E T W O R K O F T O O L S A N D T E C H N O L O G I E S A N D M A R K E T I N G A U T O M A T I O N T O O L S A R E N O W A N O D E O N A N E T W O R K - E V E R Y T O O L H A S A U T O M A T I O N S
  25. 25. YOU’VE SET UP A NEW FEATURE IN YOUR PRODUCT SO YOU SET UP AN AUTOMATION TO POP UP A SURVEY ONLY TO THOSE AFFECTED USERS WITH IN THE APP SURVEY TOOL RUNS, THEN PASSES DATA BACK TO DRIVE NEW CAMPAIGN INTERCOM TRAY.IO PROMOTER.IO
  26. 26. S P L I T T H E C A M P A I G N T O D E A L W I T H T H E B A D S C O R E S , A N D L E V E R A G E T H E G O O D Users with lowest NPS In real time pop up chatbot offering support, or directing them to the answers Ask them to create a review for you on any site! Now you have a process of getting reviews from your best customers. Use data from other tool to identify user while they are in the app Users with Higher NPS Use data from other tool to identify user while they are in the app @msweezey
  27. 27. DATA GETS BIGGER AND MORE COMPLEX O U R M E T H O D S M U S T B E I N C O R D I A T I O N W I T H
  28. 28. 45DATA SOURCES BY 2025 THE FUTURE IS MORE DATA Brands plan to be using 15 data sources on average in 2019. At current growth rates it is easy to see the average brand using close to 45 data sources by 2025. Source: Salesforce State of Marketing 2018
  29. 29. With 15 data sources, and dozens of tools marketers will be facing an IDENTITY CRISIS. Not their own, rather keeping up with a single individual across the tools, channels, and data sets.
  30. 30. Benchmarking Data Which tools are being used by high performers, and at what rate is the industry adopting these technologies. Source: Salesforce State of Marketing 2018 Under Performers Middle Performers High Performers 20172018Currently Use Plan To Use HP VS UP Difference
  31. 31. Marketing Automation DMP CDP CRM Internally Focused – tracks a persons engagement with marketing assets. Website, email, social. BOTH- tracks 2nd and 3rd party data providing more color into website visitors. Connects users across browsers. Internally focused – a marketer-managed system that creates a persistent, unified customer database that is accessible to other systems. Internally Focused – keeps track of your leads, prospects, customers and manages your relationship with them. Combines data with a layer of automation to create real time direct marketing and sales programs. Used to direct advertising programs, show larger trends. No PII is shared. Used to direct marketing programs and show full customer journey. Knows the person via PII. Used to direct business operations. The person is known via PII. Only tracks known assets Tracks both known and unknown Tracks both known and unknown Can only track Known assets Defined Data types – must have email address, name, and cookie Undefined data types – able to handle unstructured data and use machine learning to connect it together Undefined data types – able to handle unstructured data and use machine learning to connect it together Defined Data types – must have email address, name, and cookie
  32. 32. ARTIFICIAL INTELEGENCE COMES STANDARD O U R M E T H O D S M U S T B E I N C O R D I A T I O N W I T H
  33. 33. If Data is the Oil, then AI is the refinery. “ ”
  34. 34. HIGH PERFOMERS LEVERAGE AI MORE @msweezey Total use of AI reached 29%, a 40% increase from 2017. Still that is not evenly distributed as High Performers are 2.7X more likely to use AI. 40%YOY Growth in use of AI by all marketers
  35. 35. • One Off Tools • Large investment • Solving Big Problems • Usage Low • Add on to Existing Tools • Easily added on to existing products • Significant Returns • Used to solve tactical problems • Adopted by 30% • Baked In To All Solutions • AI fades into the background • Becomes digital assistant • Brands can’t compete with out it EARLY STAGE CURRENT STAGE FUTURE STAGE ARTIFICIAL INTELLIGENCE MATURITY PATH 2012 2019 2025
  36. 36. FORMS WILL BECOME A THING OF THE PAST O U R M E T H O D S M U S T B E I N C O R D I A T I O N W I T H
  37. 37. DATA + C H AT B O T #1 sources of qualified opportunities for Segment.io. 5X Increase in engagement 2X Increase in conversations @msweezey
  38. 38. @msweezey
  39. 39. VOICE WILL IMPACT BUSINESS BUYERS TOO O U R M E T H O D S M U S T B E I N C O R D I A T I O N W I T H
  40. 40. 38% of all shoppers have used voice for purchasing, searching, or checking prices in the past three months @msweezey Source: State of the Connected Customer 2018
  41. 41. 72%OF CONSUMERS USING VOICE DO SO DAILY VOICE BECOMES DAILY HABIT THIS TREND WILL ONLY INCREASE IN THE FUTURE Source: Google Think
  42. 42. ALEXA SKILLS @msweezey 50,000 Alexa skills worldwide. Both sources also reported that Alexa is now compatible with 20,000 devices and is used by more than 3,500 brands
  43. 43. A NEW APEX FOR DIRECT MARKETING H U M A N _ - t o – H U M A N
  44. 44. Permissioned Human-to-Human actions are a backdoor around AI filters. They also trigger notifications alerting the consumer to the conversation.
  45. 45. P E R S O N A L I Z E D : TA K E S O N A E X T E N D E D M E A N I N G 1 ) H O W W E L L YO U C A N P E R S O N L I Z E T H E C O N T E N T 2 ) H O W P E R S O N A L LY YO U C A N D E L I V E R I T. @msweezey
  46. 46. ORDER COMES IN CONNECT ORDER TO REP WHO SPECALIZES IN THAT FIELD SCHEDULE TASK FOR REP FOR REACH OUT @msweezey
  47. 47. • EXPECT TO DRIVE $100 MILLION IN SALES VIA THIS PROGRAM • ONE GEARHEAD CAN MANAGE 10,000 RELATIONSHIP WITH CUSTOMERS IF THEY HAVE THE TECHNOLOGY • INCREASED THE LIFETIME VALUE OF THOSE CUSTOMERS 40% OVER THOSE NOT ENGAGED WITH THE PROGRAM, AND IT HAS INCREASED ORDERING BEHAVIOR BY 105%. • MY GEARHEAD IS WELSEY! @msweezey
  48. 48. THE FASTER FISH CREATES GREATER DEMAND @msweezey T H E F U T U R E I S A L S O A B O U T T H E W A Y W E W O R K
  49. 49. @msweezey “In the new world, it is not the big fish which eats the small fish, it’s the fast fish which eats the slow fish.” Klaus Schwab, Founder and Executive Chairman of the World Economic Forum
  50. 50. A G I L E = T H E M O D E R N P R O D U C T I O N M E T H O D @msweezey @msweezey
  51. 51. 10X MORE LIKELY TO USE AGILE METHODS HIGH PERFORMERS USE AGILE METHODS High performers just don’t use new tactics, they build and operate in a different way. They are able to do more, with less effort, and obtain higher results via agile. Source: Salesforce State of Marketing 2017
  52. 52. U S E R S T O R I E S T E S TR E V I E W E X E C U T E AGILE PROCESS @msweezey
  53. 53. John, I noticed an article on Content experience, and thought you might like to give it a look. John, There is a video in our resource library on Lead nurturing best practices, here’s a link to it. It was recorded with Jay Baer. John, I’m not sure if you follow this guy on social. But If you’re on Twitter you might want to check out @jaybaer. We’ve just shot a webinar.. AGILE TEST @msweezey
  54. 54. ASK THE QUESTION @msweezey
  55. 55. REVIEW 1 . W H A T W E R E Y O U L O O K I N G F O R ? 2 . D I D I T M E E T Y O U R E X P E C T A T I O N S ? 3 . H A V E Y O U F O U N D B E T T E R ? @msweezey
  56. 56. THIS ALL COSTS A LOT MORE MONEY O U R M E T H O D S M U S T B E I N C O R D I A T I O N W I T H @msweezey
  57. 57. MAINTAIN BRANDING 15% HEADCOUNT 80% PROGRAMS 5 % TECH + OTHER 2-6% GR AVERAGE BUDGET FAST GROWTH 25% HEADCOUNT 65% PROGRAMS 10% TECH + OTHER 7-12% GR 30% HEADCOUNT 55% PROGRAMS 15% TECH + OTHER 13-30% PR *GROSS REVENUE *GROSS REVENUE *PROJECTED REVENUE
  58. 58. 5 PIECES OF CONTENT TO PUT ON YOUR BOSSES DESK STRETCH BUDGET BASICS 1. NEGOTIATE UP FRONT– Stretch budgets are negotiated up front, just like a line of credit. 2. DOUBLE DOWN – They allow you to double down on great ideas, proving out new tactics and channels. 3. INSTANTLY ACCESSIBLE – You have instant access to them because they were pre-negotiated.
  59. 59. Normal Goal: 200 Stretch Goal (2x): 400 Stretch budget opened: $5K If you hit your stretch goal, you can access a part of stretch budget with out question. Allowing you to double down on the marketing tactic that got you a big win. Example
  60. 60. If your total stretch budget is 10k only take a portion of it at time. Maybe only 2k, so you can repeat this 5 times over a budgeting cycle. DON’T USE IT ALL AT ONCE
  61. 61. CONCLUSIONS @msweezey
  62. 62. Source: Salesforce State of Marketing 2017 High performers were 17X more likely to be considered excellent at collaboration across the entire customer lifecycle 17X HIGH PERFORMERS COLLABORATE ACROSS THE BUSINESS BETTER AT COLLABORATING ACROSS THE BUSINESS
  63. 63. The consumer is no longer in charge. The AI is. If you are not contextual to the moment you will not be let through. @msweezey
  64. 64. CXO’s HAVE ALREADY TAKEN OVER AT LEADING BRANDS M E D I A B 2 B R E T A I L O T H E R @msweezey
  65. 65. 45DATA SOURCES BY 2025 THE FUTURE IS MORE DATA Brands plan to be using 15 data sources on average in 2019. At current growth rates it is easy to see the average brand using close to 45 data sources by 2025. Source: Salesforce State of Marketing 2018
  66. 66. @msweezey

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